Moody’s: Tory EU exit bigger risk to credit rating than election uncertainty

The prospect of Britain leaving the European Union is a bigger threat to the UK economy than uncertainty over the General Election, according to the respected agency

 

The prospect of Britain leaving the European Union is a bigger threat to the UK economy than uncertainty over the General Election, according to credit ratings agency Moody’s.

In a blow to Conservative plans for an in-our EU referendum in 2017, the independent credit ratings agency warned that while a period of uncertainty resulting from a hung parliament was unlikely to effect Britain’s credit rating, exit from the European Union could damage Britain’s credit profile and force Moody’s to re-analyse the UK’s growth prospects.

“As the EU accounts for around 50 per cent of the UK’s goods and 36 per cent of its services exports, a withdrawal from the EU could have negative implications for trade and investment, both ahead of the event and following it,” the agency said.

“While it remains unclear whether this would indeed lead to an exit, if the likelihood of the UK leaving the EU were to increase, Moody’s would analyze the impact on the UK’s growth prospects,” it added.

The comments come on the back of a warning earlier this week by former Labour prime minister Tony Blair that David Cameron’s proposed 2017 EU referendum was a “concession to UKIP” that risked leaving “a pall of unpredictability hanging over the British economy”.

James Bloodworth is the editor of Left Foot Forward. Follow him on Twitter

18 Responses to “Moody’s: Tory EU exit bigger risk to credit rating than election uncertainty”

  1. AlanGiles

    The probability is there will so much pro-EU publicity put about that the vote will say “Yes”, but, the point is a great majority of people want the chance to vote, despite dictator Blair telling us the other day we are not clever enough to be allowed to have an opinion.

  2. AlanGiles

    The probability is there will so much pro-EU publicity put about that the vote will say “Yes”, but, the point is a great majority of people want the chance to vote, despite dictator Blair telling us the other day we are not clever enough to be allowed to have an opinion.

  3. AlanGiles

    The probability is there will so much pro-EU publicity put about that the vote will say “Yes”, but, the point is a great majority of people want the chance to vote, despite dictator Blair telling us the other day we are not clever enough to be allowed to have an opinion.

  4. Godfrey Paul

    Utter tosh. Better to be Big World than little europeans.

  5. David Davies

    I do not know anyone who is desperate for even a vote on the EU, other than those who blame it for `migrants’ – rather than immigrants. I would say that there is a far greater concern for the NHS. Is there going to be a referendum about the surreptitious meddlesome top down privatisation of that?

  6. Jim Bennett

    Blair was one of history’s biggest c#$ts however he wasn’t a dictator. He was elected three times to govern.

  7. Chris Kitcher

    Twat

  8. Chris Kitcher

    Just goes to show how our democracy is so wrong.

  9. Leon Wolfeson

    And? You’re a Little Englander, so what does a third thing which you’re not…

  10. Guest

    Keep whining about democracy.

    And people do have a chance to vote, it’s called a general election. Keep fighting Thatcher and Atlee, who both condemned referendums.

    It’s only non-citizens like you who don’t get a vote.

  11. Leon Wolfeson

    Yea, people pick options…ooh…not far right enough? Sigh.

    Wanting reform, incidentally, is not the same thing as saying democracy is wrong.

  12. littleoddsandpieces

    Little Englander. Big World. Little Europeans. Pro-EU when most of it is a default hazard zone because of the Euro money.

    Democracy when the vast majority of people do not vote.

    No big party came to power in 2010 in voting areas,
    where the bulk of voters came out to vote.

    The UK poor / non voter vastly outnumber all other voters.

    Worry about the EU and a referendum costing millions if not billions, when referendums do not bring out even a tiny minority of voters.

    Worry more about the rise in starvation in the UK right across all ages, from babes in wombs, to granny and grandad.

    Because no elite has ever survived leaving the poor to starve anywhere in the world, throughout history.

    The poor in the UK going to foodbanks are mostly people in work.

    Poverty is mostly the so-called hard working folk.

    And it is from the hard working folk that the state pension has been morally nicked.

    See end of:

    //you.38degrees.org.uk/petitions/state-pension-at-60-now

  13. AlanGiles

    It’s ironic. Under your given name(?) you whine about your perceived “victimhood”, and how (totally incorrectly) you pretend mendacious motives, certainly on my part, yet when you post as “Guest” you are one of the most insulting and abusive individuals on this site. Please remember though, even though you gutlessly hide here as “guest”
    when your replies come through my email address Leon they have your name on them.

    I really feel it would be better if we ignored each other. You seem to treat this site as a joke

  14. Guest

    You’d feel better if you could silence the Jew, blah blah, as you try and dismiss left-wing views as a joke.

    Irony, Lord Blagger, is not hitting people with a 4-iron, as you insult Jews as “mendacious” and “gutless”, and claim that talking about you and your use of many usernames is “insulting and abusive”, etc.

    Please remember, Lord Blagger, I have a list of many of your usernames, as you whine for your censorship again, and can’t argue with the facts – like your not being a British Citizen.

  15. AlanGiles

    There you go again. I was going to say grow up but I can only assume you are senile. For the record (unlike yourself) I post only under my real name. Get treatment before they section you.

  16. Guest

    Yes those facts! I keep going on about them, how dare I!

    You indeed make ass-umptions about others, as you claim all your usernames are “real” names of different people. Which I don’t play along with, hence your constant rage at me.

    “UR MAD JEW”, you scream, as you commit an offence there. Keep belting out the standard chant of hate, the rejection of debate for “UR MAD”, standard far right, totalitarian and social darwinist ideology from you, Lord Blagger.

  17. JoeDM

    There would not be such a pressure on our NHS if we had not had uncontrolled immigration for the past couple of decades !!!

  18. Leon Wolfeson

    So you claim something which didn’t occur. You blame the other, and want less of a NHS because of smashing the economy.

    It’s always those evil dark-skinned people for you.

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